TO MOVE OR NOT TO MOVE?

TO MOVE OR NOT TO MOVE?

Many times the key question is popping up “Should we remodel or move?”

If you own a house, you've undoubtedly also daydreamed about living in the perfect one: with spacious sun-filled rooms, a master bath, a chef’s kitchen fully equipped with cabinets and counter space, and a private retreat for getting away from it all.

Most people feel they are misfits in their own homes. The life style of the new millennium simply doesn't jibe with the life style that most houses were built for.

Fortunately, a renovation that redesigns the existing space within your house, or creates additional rooms can custom-tailor your home precisely to the way you live.

These days, renovating and redecorating have become hotter than investing in real estate.

Millions of Americans have discovered that improving often beats moving in today's ho-hum housing markets.

Remodeling can also solve problems encountered when you outgrow your house. Finally you wound up with a house that fits your needs perfectly. If you too might want to undertake a big improvement project, it's essential to find ways to keep your costs down and your potential payback up by choosing the right materials.

First of all you should remodel to make your house more comfortable and enjoyable not just to make it a better investment.

Should you decide to go through a major renovation here are some tips:

1. Don't undertake any project that will raise the value of your home to more than 20% above the most expensive houses in the neighborhood.

2. Following the demand and supply rule, it will always be financially favorable to remodel when the housing market in your area is in a decrease. During a frenzied market your remodeling costs can be 10% to 20% lower when the housing market is slow in your area.

3. The demand for a modern, fully equipped kitchen is so powerful among home shoppers, that you can usually count on recouping a higher percentage of what you spend on a renovation there than with any other project -- 85% on average. You will get a more modest payback when remodeling an existing bathroom -- about 75% on average -- but adding a second full bath to a house that has only one can boost your payback to 85%.

4. Many couples with children now choose to add privacy and luxury by putting in master suites with bed and bath also we see a trend of adding separate areas large enough for a small gym or a study. The most cost-efficient way to achieve this effect is by adding up to 500 sqf of room addition. Splurges such as enlarging the existing bath to include a whirlpool tub and walk-in shower became a standard nowadays. And adding a master suite can let you recoup 79% of your money, but don’t think about saving on combining 2 rooms into one because real estate brokers caution against this project if you won't have at least three bedrooms left after eliminating one.